Danica Pension Livsforsikringsaktieselskab Has $367.55 Million Stake in Alphabet Inc. $GOOG

Key Points

• Danica Pension Livsforsikringsaktieselskab reduced its Alphabet stake by 7.2% in the fourth quarter, but still held 1,171,281 shares worth about $367.5 million, making Alphabet its fourth-largest position.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analyst sentiment remained positive with multiple firms maintaining or raising buy ratings and price targets.

Danica Pension Livsforsikringsaktieselskab cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,171,281 shares of the information services provider's stock after selling 91,027 shares during the period. Alphabet makes up 5.3% of Danica Pension Livsforsikringsaktieselskab's portfolio, making the stock its 4th largest position. Danica Pension Livsforsikringsaktieselskab's holdings in Alphabet were worth $367,548,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOG. Imprint Wealth LLC purchased a new position in shares of Alphabet in the third quarter valued at about $31,000. Manning & Napier Advisors LLC purchased a new position in shares of Alphabet in the third quarter valued at about $32,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at about $38,000. Towne Trust Company N.A increased its position in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after acquiring an additional 34 shares during the period. Finally, Lynch Asset Management Inc. purchased a new position in shares of Alphabet in the third quarter valued at about $61,000. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $370.00 price objective on shares of Alphabet in a research report on Tuesday, January 20th. Wells Fargo & Company upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. BMO Capital Markets restated an "outperform" rating and issued a $400.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Needham & Company LLC set a $400.00 price target on shares of Alphabet and gave the company a "buy" rating in a research report on Friday, March 13th. Finally, TD Cowen boosted their price target on shares of Alphabet from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and an average price target of $362.73.

Alphabet Stock Performance

Shares of GOOG stock opened at $386.77 on Tuesday. Alphabet Inc. has a 12 month low of $157.58 and a 12 month high of $398.37. The stock has a market cap of $4.69 trillion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company's fifty day moving average price is $320.46 and its 200-day moving average price is $313.53.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period last year, the business earned $2.81 EPS. Alphabet's quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio is currently 6.41%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director owned 3,581 shares in the company, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 158,553 shares of company stock valued at $47,951,856. Insiders own 12.99% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google said it likely stopped a hacker group from using AI to plan a large-scale cyberattack, underscoring the strength of its cybersecurity capabilities and reducing the risk of a major breach. Reuters: Hackers pushing innovation in AI-enabled hacking operations, Google says
• Positive Sentiment: Investor commentary remained upbeat on Alphabet’s AI, cloud, and Gemini momentum, with some coverage arguing the company could challenge Nvidia as the world’s most valuable company. MSN: Alphabet could overtake Nvidia as world's largest company
• Neutral Sentiment: Google Finance is expanding in Europe, adding another AI-focused product initiative, but this is more of a long-term growth story than an immediate stock-moving catalyst. PYMNTS: Google Finance Continues AI-Focused Expansion With EU Launch

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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